Oil futures are not exactly immune to a commodity rout. Oil prices have been pulling back over the past few days, with July WTI crude (CL1:COM) down 2.3% to $70.44/bbl after closing last Wednesday at the highest level since October 2018 while August Brent crude (CO1:COM) has slipped by a similar margin to $72.67/bbl from the highest close in more than two-and-a-half years thanks to the Federal Reserve's hawkish shift in tone. On Wednesday, Fed Chairman Jerome Powell said during his post-decision press conference that rising inflation is due to…
